A residential mortgage lender is using AI to help brokers attract more customers as well as engage existing customers.
MPowered Mortgages says this will speed up and simplify the mortgage journey for homebuyers and remortgagers, too, via a new tool called Marketing Assist.
This uses the power of artificial intelligence and specifically ‘large language models’ like ChatGPT to create marketing content, like social media posts and emails, into a platform tailored to the UK mortgage market. This allows brokers to create bespoke, professional content over an easy-to-use interface, claims MPowered.
Matt Surridge, director of sales, says: “We are constantly looking at ways we can improve the broker journey and help them grow their business using the power of AI, particularly LLMs like ChatGPT … For many smaller broker firms content marketing is always on the to do list and we hope that our platform will help put marketing back on the agenda and enable brokers to produce an instant professional draft that brings their thoughts and advice to potential customers quickly. “
The launch statement cites Michael Brown of Paradigm Mortgage Services as saying: "As advocates for progress and innovation in the mortgage industry, we at Paradigm Mortgage Services have been fortunate to have already experienced the Chat GPT tool for brokers. The ability to generate draft marketing content through such a platform showcases the industry's forward momentum. We appreciate efforts that empower brokers and enhance their efficiency. We're keen to see how this tool unfolds, potentially revolutionising the way brokers interact with clients and furthering the reach of intermediary services."
And Robert McCoy of TMA Club comments: "It is good to see a technology driven lender supporting advisers with this innovative tool, giving them an insight to AI development and how it can be used to support their contact strategy with their client database.”